cars  money


Question by  worker9380 (22)

What is the procedure for doing a voluntary repossession in Texas?

I purchased a car during cash for clunkers and need to return it as I can not afford it now.


Answer by  dee73 (1062)

You need to call the dealership and explain the situation you are having and need to return the car.Then try to work out a payment plan for the remaining amount.


Answer by  laplanmd (31)

You need to contact the bank that you are lending the car to and explain to them that you would like to voluntarily give the car back to them. Even if you do this, it still can have other impacts on your credit and other legal actions.


Answer by  flamiss22 (5081)

Contact the car company where you purchased the car and tell them you need to return the car and the reason why. Once the car is surrendered the company will sell the car and most likely there will be a remaining amount that you will be responsible for. Try and make payment arrangements for the balance.


Answer by  mugabifred (26)

first call your creditor and tell them that you can nolonger afford to pay for the car , creditor will tell where to return it and the procudure


Answer by  TravisUSMC (979)

The company doesn't want to lose income. Try calling them, tell them you thought you coulod afford it but have no money now. They would rather try to re-sell it than to collect money from you. Using a seperate company to collect from you costs THEM money so they dont want to go that route.


Answer by  k99 (489)

Call your finance company and let them know that you want to surrender your vehicle. More than likey they will tell you where and when to drop off the vehicle. Once you drop off the vehicle it will probably go to auction to be sold and you will be held responsiable for the balance between the sold and owned.


Answer by  japratt (1687)

You need to first call up the finance company that you are with to tell them your story, then you have to get intouch with a repossession company to come and pick up your car.

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